Oppenheimer Believes Restaurant Brands International (NYSE: QSR) Still Has Room to Grow

By Jason Carr

Oppenheimer analyst Brian Bittner maintained a Buy rating on Restaurant Brands International (QSRResearch Report) yesterday and set a price target of $75. The company’s shares closed yesterday at $63.72, close to its 52-week high of $65.59.

Bittner noted:

“While QSR is up 24% year-to-date, we continue to pitch it as a top ’19 idea, particularly ahead of its inaugural Investor Day. This event could elevate conviction that QSR has tools for best-in-class growth amongst the group. Plus, with accounting noise from ’18 in the rear-view mirror, we expect much healthier ’19 earnings growth and our EPS sits above consensus. Capital optionality through M&A also remains a unique catalyst to revise estimates and create value. For the quarter, SSS were already pre- announced and any concerns around a potential EBITDA miss or tax rate projections were put to rest. Raise price target to $75.”

According to TipRanks.com, Bittner is a top 100 analyst with an average return of 11.5% and a 71.3% success rate. Bittner covers the Services sector, focusing on stocks such as Jack In The Box Inc, Yum China Holdings, and McDonald’s Corp.

Currently, the analyst consensus on Restaurant Brands International is a Strong Buy with an average price target of $70.14, which is a 10.1% upside from current levels. In a report issued on February 6, Cowen & Co. also reiterated a Buy rating on the stock with a $71 price target.

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Restaurant Brands International’s market cap is currently $16B and has a P/E ratio of 25.81. The company has a Price to Book ratio of 7.32.

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Restaurant Brands International, Inc. is a holding company, which engages in the operation of quick service restaurants. It operates through the following segments: Tim Hortons, Burger King, and Popeyes. The Tim Hortons segment provides donut, coffee, and tea restaurant services. The Burger King segment manages fast food hamburger restaurant.